Acquisition of drug-discovery technologies

RNS Number : 8753D

C4X Discovery Holdings PLC

12 July 2016

 

This announcement contains inside information

C4X Discovery Holdings plc

("C4XD" or the "Company")

Acquisition of drug-discovery technologies from MolPlex Ltd

Proprietary platform technology further augments C4X Discovery's drug discovery engine

12 July, 2016 - C4X Discovery Holdings plc (AIM: C4XD), an innovative drug discovery and development company, today announces the acquisition of a suite of advanced drug-discovery technologies from MolPlex Ltd (the "Molplex Technologies").

The MolPlex Technologies comprise a pioneering software-based system that combines state-of-the art chemoinformatics, computational chemistry and artificial intelligence to optimize the drug development process.

Currently, C4XD has the only technology in the world (Conformetrix) that can use experimentally-determined solution-structures to design drug molecules that are optimally shaped to provide potency and selectivity. The MolPlex Technologies will complement this by enabling C4XD to not only generate the chemical starting point for such design programmes in rapid time, but to also predict whether the resulting molecules have the 'druggable' qualities required for human administration (e.g. absorption, solubility and metabolic stability), thereby reducing the cost, time and attrition associated with early development and increasing the likelihood of eventual clinical success.

The MolPlex Technologies were originally developed at Newcastle University and have three aspects:

·   a vast in silico library of compounds that can be used for virtual screening to provide quick chemical starting points for new development programmes;

·     a molecular simulations system that enables medicinal chemists to understand the interactions between drugs and their targets;

·   algorithms that can predict the physiochemical properties of lead molecules (such as absorption, distribution, metabolism, excretion, cell permeability, solubility and plasma-protein binding), enabling rapid optimisation of candidates for clinical testing.

Dr Clive Dix, CEO of C4X Discovery, said: "These new technologies, which we have brought into the business on very economical terms, complement our existing platform and add to our ability to capitalise on the identification of high-value targets from our Taxonomy3^® technology to generate drug candidates with greater clinical and commercial differentiation. We are rapidly building an internal pipeline of exciting therapeutic programmes and moving steadily towards realising our goal of becoming the world's most productive drug discovery and development company."

C4XD acquired the technologies from MolPlex Ltd, which is currently in administration, for a non-material amount.

--ENDS--

For further information please contact:

C4X Discovery Holdings plc

Clive Dix, Chief Executive Officer                                                                                                 07801 865803

Zeus Capital Limited

Dan Bate                                                                                                                                                  0161 393 1973

Dominic Wilson/Phil Walker                                                                                                          0203 829 5000

Consilium Strategic Communications

Mary-Jane Elliott, Chris Gardner, Matthew Neal, Melissa Gardiner                               0203 709 5700 

About C4X Discovery

C4X Discovery aims to become the world's most productive drug discovery and development company by exploiting cutting-edge technologies to design and create best-in-class drug candidates. The Company has two proprietary and synergistic software platforms "Taxonomy3®" and "Conformetrix" that provide a significant competitive advantage when combined with an experienced management team. "Taxonomy3®" is a human genetics analysis platform that utilises a unique mathematical approach to discovery and validation of drug targets for the treatment of a variety of diseases. "Conformetrix" determines the 3D shape of drug molecules from experimental in vitro data that enables the rapid design and discovery of novel and potent drugs for diseases with high unmet medical need across broad therapeutic areas. We have a hybrid business model of wholly-owned programmes and partnerships with pharma, biotech and academics.

The Company was founded in 2008 as a spin-out from the University of Manchester and has a highly experienced management team and Board who have delivered significant value creation within the healthcare sector historically. For additional information please go to: www.c4xdiscovery.com

 

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